ABC transfers part of its inventory to a finance company receiving 300000 in exchange. which is less than the inventories NRV.

ABC transfers part of its inventory to a finance company receiving £ 300000 in exchange. which is less than the inventories NRV. ABC can re-purchase the inventory at any time it wishes at a price of £300000 plus 8% interest for each year. it is held by the financing company. the finance company can not sell the inventory to any other company. required: identify the amoutn of revenue if any that should be recognised in the financial statement of ABC's for the year end 31st december 2011???give a reason for your answer